FormFree chosen to provide asset verification for Fannie Mae (HousingWire)

FormFree announced earlier this week that Fannie Mae chose it as the first “designated vendor” for asset verification through Desktop Underwriter. As part of the Day 1 Certainty program, Fannie Mae will offer “enforcement relief of certain representations and warranties for validated components,” with relief specifically for asset verification that takes effect on Dec. 10. … Read More

As most housing professionals know, the mortgage industry typically has been slow to innovate. That has been an issue in terms of dealing with a generation that lives on their phones and the internet. In that light, the recent announcement of the addition of automatic verifications to Fannie Mae’s Desktop Underwriter platform is a welcome … Read More

The move toward digitization and a paperless mortgage process to create efficiencies, manage risk, reduce costs and improve the borrower experience has been under way in the mortgage industry for a while. Fannie Mae’s Day 1 Certainty, introduced at MBA Annual in October, is one of the latest efforts to push the technology envelope while … Read More

As part of Fannie Mae’s Day 1 Certainty program, the agency announced it was vetting potential new vendors to provide verification services for the program. Currently, verification services must come from The Work Exchange, Equifax or FormFree to independently validate borrower income, employment and asset data. To mitigate the risk that Fannie Mae assumes by … Read More

Fannie Mae has expanded the list of third-party vendors approved to validate borrower income, employment and assets as part of the Desktop Underwriter validation service. Currently, the DU validation service, a component of Fannie’s Day 1 Certainty representation-and-warranty relief program, only allows for three types of reports: employment and income verification from The Work Number, … Read More

“…The LO will need to ensure they are utilizing technology such as mobile applications, mobile pricing, and software allowing them to share updates with their borrowers or realtors at any given time. The LO will also want to focus on utilizing LOSs that are fully integrated with instantaneous verifications providers, such as The Work Number … Read More

FormFree’s AccountChek asset verification solution is now integrated with Floify’s mortgage automation platform. This enables lenders using Floify’s software – which currently has more than 90,000 registered users – to request, analyze and certify a borrower’s financial data directly from his or her Floify account. Read the full article on MortgageOrb.